Since its first release, Bored Ape Yacht Club has become one of the most popular digital collectibles on the Ethereum blockchain. What is the price history of the Bored Ape Yacht Club, and how has it changed over the years? Find out in this post!
What is the Bored Ape Yacht Club Price History?
After it came out in April 2021, less than two years later, bored Ape Yacht Club (BAYC) is now the second-highest-selling collection of all time, passing CryptoPunks. Yuga Labs, the company that made the NFT, set a new sales record because more early adopters bought it.
The recent economic downturn has hurt sales of one of the most popular collections in the industry. And new clients in the NFT industry all over the world.
With only 263 unique buyers in August, it was the lowest number in 16 months and the lowest since February 2022.
One-time buyers are in charge of determining how much NFT collections are worth based on interest. Only 141 people ordered BAYC NFTs in April of last year. The sudden growth to 3,550 buyers in May 2021 made BAYC NFTs the new golden goose in the digital art business.
Impact Of Bored Ape Yacht Club Price Variation
BAYC’s past shows that the median selling price had a new relationship with it. Even though there were fewer customers than in May 2021, sales increased. There were 1,456 sales in January 2022, with 937 different buyers. The average price was $238,140, a 12,780% increase from the average price of $1,850 the year before.
There were 424 fewer buyers in June than in May, which caused sales to drop by 63%, from $223 million to $82 million.
Since two months ago, sales have dropped below $60 million, and the number of unique clients keeps decreasing. In August 2022, the volume was about $58 million.
ApeCoin (APE), the project’s native blockchain coin, had also lost value since March 2022, when it was worth the most. During August, prices for APE ranged from $4.61 to $7.68.
Bored Ape Yacht Club is a collection of 8,000 NFTs with black backgrounds and white text. Last week, finished second, just behind Loot. During the time period in question, BAYC sold about $11,000,000 worth of NFTs. In the top five are also CloneX and Ethereum Name Service.
Check out the most expensive BAYC NFT monkeys ever sold! These are for sure some pretty expensive pieces of art!
Bored Ape Yacht Club Explanation
The Bored Ape Yacht Club is one of the most popular NFT (non-fungible token) digital collectibles. While CryptoPunks made the PFP (profile picture) idea the foundational model for digital collectibles, with a few new ideas, Bored Ape Yacht Club has taken the idea to the next level.
Bored Ape Yacht Club NFTs are presented as a digital collectible. With a limit of 10,000 units and a system of attributes tied to rarity. Digital collectors like Bored Ape Yacht Club because of its unique idea.
How Is Bored Ape Yacht Unique?
Bored Ape Yacht Club differs from CryptoPunks because it has a flexible licencing system for its intellectual property (IP). This means that the owners of NFTs can make money off of them and license all kinds of derivatives, editorial, and audiovisual products. This makes the Bored Ape Yacht Club NFTs a good choice for digital collectors who want their money back.
So, Bored Ape Yacht Club is worth checking out if you’re looking for an exciting new kind of digital collectible. It’s a new idea that could interest people who collect digital things. It’s also a great way to get a return on your investment thanks to its flexible licencing system.
Bored Ape Yacht Club NFT History
Yuga Labs was made by four people who wanted to remain anonymous. They plan to start making and selling Bored Ape Yacht Club in spring 2021. Emperor Tomato and No Sass would work with the company’s founders, Gargamel and Gordon Doner, to solve any problems during development.
Even though Yuga Labs would be the collection’s creator, Seneca, a self-employed artist, would be responsible for the collection’s artistic design. He would be the original intellectual property owner, which would be given to each Ape owner.
Two things that make this project stand out are that Yuga Labs’ founders use a pseudonym and that the NFTs’ owners have a flexible system for licencing intellectual property. BuzzFeed, a digital news site, would reveal the names of the first four team members in February 2022, even though the team had not permitted them.
Wylie Aaronow and Greg Solano, both in their thirties, are the real Gargamel and Gordon Goner. They are avid readers and intellectuals who like the philosophical and literary works of David Foster Wallace and Ludwig Wittgenstein.
They would be surprised by how popular their NFT line, based on chimps, is. At its start, the Bored Ape Yacht Club would raise almost $2 million, but this was just the beginning. At a Sotheby’s auction, more than a hundred apes could bring in about $24 million, or more than $250,000 for each NFT on average. Neymar, a soccer player, Justin Bieber, Snoop Dogg, Eminem, Gwyneth Paltrow, Stephen Curry, Shaquille O’Neal, and Mark Cuban, an investor, would all start buying Bored Ape Yacht Club NFTs.
In 2021, the Bored Ape Yacht Club and the CryptoPunks were on the cutting edge of the NFT craze.
In February 2022, an Alien, one of the rarest and most expensive CryptoPunks, sold for 8,000 ETH, which is about 23 million USD. The Bored Ape Yacht Club will follow in the footsteps of Sotheby’s Marketplace, where a rare gold fur once owned by Jimmy, CEO of NFT42, sold for a record-breaking $3.4 million.
Since its release, Bored Ape Yacht Club has become one of the most popular digital collectibles on the Ethereum blockchain. With its unique art and clever use of NFT technology, it is a must-have. The Bored Ape Yacht Club has become an item that every digital collector needs.